Short Interest in Power Solutions International, Inc. (NASDAQ:PSIX) Expands By 42.5%

Key Points

• Short interest in Power Solutions International, Inc. increased by 42.5% in September, now totaling 691,200 shares with about 8.1% of the company's shares sold short.
• Weiss Ratings maintained a "buy" rating for the company, projecting a potential upside of 75% with a current average price target of $37.00.
• The company's CEO recently sold 26,005 shares, representing a 76.80% decrease in their position, while major shareholder America Corp. Weichai also reduced their stake by 0.75%.

Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 691,200 shares, an increase of 42.5% from the September 15th total of 485,200 shares. Based on an average daily volume of 737,500 shares, the days-to-cover ratio is presently 0.9 days. Approximately 8.1% of the company's shares are sold short. Approximately 8.1% of the company's shares are sold short. Based on an average daily volume of 737,500 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Power Solutions International in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Power Solutions International currently has a consensus rating of "Buy" and an average price target of $37.00.

Power Solutions International Stock Up 2.9%

NASDAQ PSIX traded up $2.22 during mid-day trading on Thursday, hitting $79.79. The company's stock had a trading volume of 127,559 shares, compared to its average volume of 493,517. The company's 50 day simple moving average is $91.41 and its 200 day simple moving average is $66.31. Power Solutions International has a twelve month low of $15.30 and a twelve month high of $121.78. The company has a current ratio of 1.26, a quick ratio of 0.65 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 16.59 and a beta of 1.53.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $2.23 earnings per share (EPS) for the quarter. Power Solutions International had a net margin of 18.56% and a return on equity of 136.57%. The business had revenue of $191.91 million during the quarter.

Insider Activity

In other Power Solutions International news, CEO Constantine Xykis sold 26,005 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $95.85, for a total transaction of $2,492,579.25. Following the completion of the transaction, the chief executive officer owned 7,854 shares in the company, valued at approximately $752,805.90. This trade represents a 76.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder America Corp. Weichai sold 79,839 shares of Power Solutions International stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $93.46, for a total transaction of $7,461,752.94. Following the completion of the sale, the insider owned 10,599,759 shares of the company's stock, valued at $990,653,476.14. This represents a 0.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 211,014 shares of company stock worth $18,768,831. 0.96% of the stock is owned by insiders.

Institutional Trading of Power Solutions International

Several hedge funds have recently bought and sold shares of PSIX. Wolff Wiese Magana LLC bought a new stake in shares of Power Solutions International in the 2nd quarter worth $26,000. California State Teachers Retirement System bought a new stake in shares of Power Solutions International in the 2nd quarter worth $26,000. Ameritas Investment Partners Inc. bought a new stake in shares of Power Solutions International in the 2nd quarter worth $43,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Power Solutions International in the 2nd quarter worth $52,000. Finally, MeadowBrook Investment Advisors LLC bought a new stake in shares of Power Solutions International in the 2nd quarter worth $53,000. Institutional investors and hedge funds own 22.28% of the company's stock.

Power Solutions International Company Profile

Power Solutions International, Inc engages in the design, manufacture, and trade of power systems and electrical power generation equipment. The firm provides integrated turnkey solutions to global original equipment manufacturers and end-user customers within the energy, industrial, and transportation end markets.

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